Any deed, instrument or writing to which the United States or any agency or instrumentality thereof, any state or territory, or political subdivision thereof, is a party shall be exempt from any tax imposed by this chapter when the exempt agency is acquiring title. There shall be exempt from the tax imposed by this chapter those instruments and transactions described in Sections 11926 and 11927 of the California Revenue and Taxation Code, subject to the limitations specified in said sections. (Ord. 417 § 14, 1985; Ord. 278 § 5, 1967)